EZ Land, financed by Luxembourg’s international investment fund KEY SICAV SIF, has made an announcement of its plan to build 1,000-1,500 apartments a year for the next five to eight years.
At the company’s launching ceremony in Ho Chi Minh City, the managing partner of EZ Land Vietnam Oliver Brazier stated that the company would concentrate on mid-priced apartments as the demand is high at the moment.
Their first project is HausNeo in District 9, where 568 apartments will be built at a cost of 500 billion VND. The apartments will be designed in Bauhaus style to shun ostentation.
Mr. Brazier added that the company has an aim of “putting the first bricks for the sustainable development of the real estate market in Viet Nam.”
EZ Land will make an announcement of the prices this October; however, some news sources have already revealed that a typical two-bedroom apartment would cost 1.4-1.5 billion VND.
The company spoke highly of Vietnam, especially Ho Chi Minh City as an alluring destination for developers. It is thanks to three factors: the Government’s support for the property market, rising GDP and incomes and a strong need for first home among the modern young people.